Online Casinos That Accept Canadian Dollar
Canada is one of the countries were people love gambling. On the one hand, this resulted in canadian government making offline and online betting legal, but, on the other hand, gambling in the web is very restricted. That is, you are allowed to gamble, but the sites are very limited. Plus, every province follows its own nuances of the law, and while in some places, it is possible to play casino games online, in other places, you can only enjoy lottery.
As a result, many Canadian gamblers who prefers playing online reach out to international casinos accepting local players. There are many such casinos, despite the fact that the Canadian government tries to ban sites available from Canada. But there are still many reliable and reputable Canadian dollar online casinos. This last aspect is important, because it is always more convenient to deposit and withdraw local currency.
If you would like to see which best online casinos that take Canadian dollar, check out the list Casinority has prepared for you.
Canadian Dollar Currency - History
Back in 1850s, Canadian government considered a question whether they should transition to the sterling monetary system similar to British pound, or decimal monetary system similar to US dollar. Despite strong pressure from Great Britain, the British North American Provinces decided that decimal system is more convenient.
During its history, Canada had several currencies: Canadian pound, Canadian dollar, New Brunswick dollar, British Columbia dollar, Prince Edward Island dollar, Nova Scotian dollar, Newfoundland dollar. In 1949, sterling experienced devaluation, and Canada felt the influence of it, as well. However, in 1950 Canada allowed its dollar to float and eventually achieved pretty stable and high rate - even against US dollar.
Regardless of the fact that Canada has been closely tied to Great Britain, most of its imports and exports connected it to US, so rate between C$ and USD eventually became more important than the country’s British background.
What Countries Use Canadian Dollar
CAD currency is very stable, highly valued and therefore it is beneficial to use CA$ for deposits. However, currently only Canada used it as national currency, and it is unlikely that any other neighboring countries could adopt this currency as their own.
Current Situation With Canadian Dollar On The Market
Nowadays, Canada has the 9th largest world economy. Its unemployment rate is only around 7%, the trade with other countries is active and stable, so the Canadian dollar is valued and stable as well.
CAD is most often traded against EUR, GBP, Australian dollar, New Zealand dollar, United States dollar, and it is easy to exchange almost in every big city of American and European countries. While it is less popular than, say, USD or EUR, simply because it is national currency in one single country. the value of this currency makes it beneficial for usage all over the world, and online, as well.
Using Canadian dollars for financial operations with online casino Canada is also a good idea. They provide certain benefits (find out more about those below), plus a bunch of Canadian Dollar online gambling platforms accept this currency. So, residents of Canada enjoy advantageous financial situation almost anywhere and anytime.
Canadian dollar Bonuses In Online Casino
Canadians can make bets at their local Internet casinos, of course, but many explore wider grounds and go out for a hunt on juicy bonuses or more favourable conditions at overseas online casinos Canadian dollar. That is why, Canadians are very welcomed players everywhere they can be accepted as real money customers at real money casino sites. Foreign online casinos in CAD face extreme competition among each other to lure in more gamblers from Canada, and one of the most effective ways is to offer bonuses.
What this means for players from Canada is that they can grab a very attractive gift from an overseas casino for registering a real money account from Canada, and for depositing CAD to make bets. You can literally get exclusive bonus simply for being where you are! To see the best bonuses for players depositing with CAD, check out the Casinority list of offers:
Advantages of Betting With Canadian Dollar
Now you already know that making deposits with Canadian dollar can totally make you eligible for getting an exclusive or additional prizes from the gambling venue. But this is not the only benefit of depositing with CAD and registering an account from Canada.
Another, very obvious benefit, is no currency exchange! As a resident of Canada, you can deposit with USD, or any other currency that the site accepts, but in this case you will need to go through currency exchange when depositing and when withdrawing. This means losses on rate differences, or even hidden commissions. Deposit with CAD, on the other hand, means no such headache at all.
And the last, but not the least, benefit is less evident. The point is that Canadians are considered reliable and stable players. As a result, the platforms desire to keep them playing on their Canadian dollar casino sites, and therefore offer different loyalty programs and exclusive promotions besides the luring welcome bonuses. So check out what additional perks you can get!
Popular Banking Methods For Canadian Dollar
Since Canadian government tends to block foreign online casinos, one of the steps taken to restrict interactions between such casinos and local gamblers is limitation for local banks to send and accept money from online casinos, especially those operated from abroad. As a result, locals should avoid using their plastic cards for depositing and withdrawing, because issues may arise. There are no persecutions for gambling online, but financial transactions may be frozen.
Instead, using e-wallets and electronic payment systems is a good idea. These include, but are not limited to:
- Interac Online
Keep in mind that having more than one option allows you to manage your transactions more effectively. Look for those that support instant payments, like ecoPayz online casinos.
The Future of Canadian Online Casinos
Obviously, foreign casinos accepting CAD from Canadian players are not happy when being banned and blocked by the government. However, it seems that the situation will not change in the nearest future, and the number of casinos allowing real money play to customers depositing CAD will only increase.
Finding a decent Canadian dollar online casino is not much of a problem. There are plenty of reliable top online casinos doing so. Canadian gamblers have a wide choice, and can enjoy additional benefits when depositing their national currency. Just check online casino reviews to opt for the best sites.